Gives nod to set up 15th Pay Commission
New Delhi: The Union Cabinet yesterday approved increases in the salaries, gratuity payments, allowances and pensions, payable to Judges of the Supreme Court and the High Courts. It also approved for setting up 15th Pay Commission. The increases in salary and allowances will benefit 31 Judges of the Supreme Court, including the Chief Justice, and 1,079 High Court judges. Around 2,500 retired Judges will also benefit on account of higher pensions and gratuity payments, a Ministry of Law and Justice statement said. The basic salary of Supreme Court Judges may be raised by over 60% to as much as Rs. 2.5 lakh per month. The figure is likely to be as high as Rs. 2.8 lakh for the Chief Justice of India. A similar hike is also expected in the salary of High Court Judges to as much as Rs. 2.25 lakh. The increases follow the implementation of recommendations of the 7th Central Pay Commission in respect of civil servants. Arrears on account of revised salaries, gratuity, pension and family pension with effect from Jan.1, 2016 will be paid as one time lump sum. 15th Pay Commission The Cabinet also approved the setting up of the 15th Finance Commission which will assess the tax resources of the nation and suggest a formula for their devolution among States. The members of the Commission and its terms of reference will be notified in due course of time. Its recommendations will have to be in place before Apr. 1, 2020. As per Article 280 of the Constitution, the Commission is required to make recommendations on the distribution of the net proceeds of taxes between the Centre and the States. The Commission also suggests the principles which should govern the grants in aid of the revenues of the States out of the Consolidated Fund of India. This time it will have to take into account the impact of the Goods and Services Tax, which kicked in from July, on the resources of the Central as well State Governments. The 14th Finance Commission was set up on Jan.2, 2013. Its recommendations cover the period from Apr. 1, 2015 to Mar. 31, 2020.
